14 May 2025

The Airport Economic Regulatory Authority (AERA) has approved a revised User Development Fee (UDF) structure for Mumbai airport, effective April 2024 to March 2029. Domestic passengers will now pay INR 275-304, while international passengers will pay INR 830-875, with higher rates for business class. A separate INR 175 levy will apply to all arriving passengers. AERA also directed Mumbai International Airport Ltd (MIAL) to revise its Terminal-1 demolition schedule, favoring a phased transition to avoid disruption. While MIAL had sought a 67% UDF hike, AERA approved only a 21.6% increase, emphasizing affordability and operational efficiency for both passengers and airlines.Read more

14 May 2025

The Ludhiana Municipal Corporation (MC) has escalated its efforts to recover outstanding property tax dues from government departments. Notices have been issued to various departments, including the Greater Ludhiana Area Development Authority (GLADA), Public Works Department, and Punjab Agricultural University, for properties where commercial activities are conducted without tax payments. MC officials are also displaying photographs of defaulting properties to encourage compliance. Last year, the MC successfully met its tax collection targets and aims to exceed them this year. If departments fail to settle their dues, the MC plans to inspect properties, calculate the tax owed, and take enforcement actions, including sealing buildings if necessary.Read more

13 May 2025

Hindustan Construction Company (HCC) reported a 63.37% decline in consolidated net profit to INR 90.08 crore for the quarter ending in March 2025, a significant drop from INR 245.23 crore in the corresponding quarter of the previous year. The company's total income during the reviewed period fell to INR 1,392.20 crore from INR 1,813.05 crore, while expenses reduced to INR 1,077.91 crore from INR 2,073.33 crore. For the entire financial year 2024-25, HCC registered a consolidated net profit of INR 112.63 crore, considerably lower than INR 478.16 crore in FY24. The company secured three contracts worth INR 5,692.6 crore in partnership with joint venture partners and emerged as the lowest bidder for projects valued at INR 3,513 crore. Additionally, it has submitted bids worth INR 30,950 crore, currently under evaluation.Read more

13 May 2025

India's private equity and venture capital (PE-VC) investments rebounded in 2024, reaching USD 43 billion across 1,600 deals-a 27% rise in activity over 2023, according to the IVCA-EY monthly roundup. While still below 2021-22 peaks, it marked the highest deal volume since 2019. Infrastructure deals surged, doubling to USD 12.4 billion and accounting for 29% of total value. Healthcare and tech drew 30% of capital, with healthcare alone attracting USD 5.6 billion. Early-stage VC deals made up 55% of VC activity. Though buyouts fell and public exits declined, investor sentiment improved, pointing to cautious optimism and stronger momentum heading into 2025.Read more

13 May 2025

Sundaram Home Finance reported a notable 26% increase in net profit for the January-March 2025 quarter, amounting to INR 71.57 crore, driven by substantial growth in small town disbursements. The had previously registered a net profit of INR 56.80 crore in the same quarter last year. For the full financial year ending March 31, 2025, the net profit rose by 4% to INR 244.66 crore. Disbursements for the quarter reached INR 1,929 crore, a significant increase from INR 1,469 crore in the prior year period. The company also expanded its footprint beyond Tamil Nadu, establishing five new branches in Andhra Pradesh during FY2025.Read more

13 May 2025

IL&FS Mutual Fund has completed the timely redemption of INR 262 crore under its Infrastructure Debt Fund Series 3B, delivering an 8% annual return since inception. The fund initially raised INR 153 crore, generating strong returns for investors. With this, total redemptions across its infrastructure debt schemes have reached INR 1,900 crore over six years, including earlier payouts from Series 1A, 1B, 1C, and 3A. Managed by IL&FS Infra Asset Management Ltd., the fund primarily targets institutional investors. The successful redemptions highlight the group's financial recovery and stability following the government's 2018 intervention, which aimed to restore investor trust after IL&FS defaulted on several obligations.Read more

13 May 2025

IRB Infrastructure announced a 10 per cent increase in toll revenue for April 2025, amounting to INR 554 crore, up from INR 503 crore in the same month last year. The IRB MP Expressway in Maharashtra contributed the largest share of INR 150.7 crore, followed by the IRB Ahmedabad Vadodara Super Express Tollway, which reported a revenue of INR 65.4 crore. CG Tollway and Udaipur Tollway also witnessed notable gains in revenue collection. Deputy CEO Amitabh Murarka indicated that the company's strong performance in FY25 is anticipated to continue in FY26, underpinned by favourable economic conditions and budgetary measures.Read more

13 May 2025

The Ludhiana Improvement Trust (LIT) has launched two one-time settlement schemes aimed at easing the financial burden on property owners. These policies offer significant discounts on non-construction fees and provide an opportunity for allottees with pending dues to regularize their properties. Eligible individuals, such as senior citizens and legal heirs of deceased soldiers, are entitled to additional benefits. Property owners must submit their applications by July 31 to take advantage of these schemes, which aim to enhance urban development and compliance in Ludhiana.Read more

12 May 2025

Aptus Value Housing Finance India Ltd, headquartered in Chennai, reported a consolidated profit of INR 207.02 crore for the January-March 2025 quarter, marking a significant rise from INR 164.03 crore in the corresponding quarter of the previous year. For the financial year ending March 2025, the company achieved a profit of INR 751.24 crore, up from INR 611.89 crore in the previous financial year. The company's Assets Under Management (AUM) grew by 25% year-on-year, reaching INR 10,865 crore. During FY25, the firm disbursed INR 3,604 crore, reflecting a 15% growth in disbursements. Aptus also expanded its operational network by adding 38 new branches, increasing its presence to 300 locations.Read more

12 May 2025

CBRE's recently released Q1 2025 report for the Asia Pacific region reveals varied performance across the real estate sectors. While office leasing showed strong growth, especially due to upgrading and relocation demand, commercial real estate investment volumes dipped slightly by 1% quarter-on-quarter (q-o-q), totalling USD 32.8 billion. The office market saw a 25% year-on-year (y-o-y) improvement in net absorption, and retail leasing sentiment remained optimistic. However, the logistics sector faced increased vacancy rates as occupiers hesitated due to global trade uncertainties. Investment activity was primarily boosted by Japan and Korea, with office sector investments outperforming others.Read more